Archive for Economics

Bob Murphy Show ep. 125: Matt Machaj on Structure of Production and Star Wars

Matt has two books on these topics, so we split the video up into two segments. The full audio interview is here.

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Murphy Twin Spin

==> My latest chapter in Understanding Money Mechanics, this one on Austrian business cycle theory. ==> Ep. 79 of the Lara-Murphy Show, where Carlos and I discuss whether the Fed’s inflation threatens the validity of IBC (the Infinite Banking Concept).

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My Full Response to Neil Irwin / Skanda Amarnath

In BMS ep 177 I talked through this, but at mises.org I have a full response to their claims that the paradox of thrift shows it is literally impossible for everyone to save more. I simply offer some counterexamples.

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BMS ep 117: Responding to Recent Economic Fallacies

Plus I give my thoughts on the labor market. Link here.

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Why the Current Unemployment Is Worse Than the Great Depression

My latest as mises.org. The key point: However, besides this technical issue, there is a much more fundamental difference between unemployment in the early 1930s and today: back then, the people out of work had been laid off. Yet today, the people out of work are in lockdown. This is an enormous distinction. When the economy crashed […]

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Do the Econ Textbooks Get Money & Banking Backwards?

The latest installment in my series on Understanding Money Mechanics for the Mises Institute. Once I dove into this one, the solutions seemed pretty obvious. Tell me what you folks think. An excerpt: In chapter 5 we reviewed the textbook analysis of how a central bank buys government debt in “open market operations” to add […]

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Murphy Twin Spin at Mises Wire

I may have already posted these… At Mises.org I recently had a post on Robert Reich and billionaires, and another on managed trade agreements.

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Wealth vs. Income Taxes

Ever since wealth taxes have entered the political discussion, I’ve been trying to put my finger on why they are even more destructive than income taxes. Some early attempts had people arguing that–if we assume assets are earning 3%–then a 3% wealth tax operates just like a 103% income tax. However, that wasn’t quite right, […]

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